Agsafe weekly report

Finance:  The NZ dollar is steady but eased very slightly against the US dollar and the Euro.  Brent Crude oil is under $US80/barrel down from peaks of around $US120/barrel while the government is planning to bring back the fuel tax early in the new year. 

Wool:  Wool prices remain in the doldrums.  No one has come up with a real alternative long-term use for wool yet!!

Beef, Sheep & Venison schedules: The sheep and beef schedules are steady while venison prices remain strong. The buyers are indicating that lamb prices will fall further after Christmas.  The staff shortages are putting pressure on the works kill space.

Dairy Prices:  International dairy prices are steady to firmer with adjustments occurring with the conversion to NZ dollars.  The Chinese are slowly coming out of their lock-up zero Covid policy, but it will take a while to recover. 

The ground is very wet in many areas and there is still a lot of silage to be harvested.  The maize should be fence height by Christmas Day, but most won’t make it.  Crops are struggling but the grass growth is OK and if the showers continue the rotations can be extended to push pasture cover into February and maybe even March.  It is a tough year managing a farm in these conditions. For more information visit www.agsafe.co.nz